ServiceNow, Inc. $NOW Shares Bought by Siren L.L.C.

Key Points

• Siren L.L.C. increased its stake in ServiceNow, Inc. by 62.8% in Q1, holding a total of $7.27 million worth of shares as reported in their SEC filing.
• Multiple institutional investors boosted their positions in ServiceNow during the same period, with 87.18% of the stock now owned by these investors.
• Recent analyst reports have raised ServiceNow's price targets significantly, with price objectives ranging from $1,150 to $1,250, indicating a strong overall market sentiment.

Siren L.L.C. boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 62.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,126 shares of the information technology services provider's stock after acquiring an additional 3,521 shares during the quarter. Siren L.L.C.'s holdings in ServiceNow were worth $7,266,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bogart Wealth LLC raised its position in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new position in ServiceNow during the first quarter valued at approximately $26,000. Heck Capital Advisors LLC purchased a new position in ServiceNow during the fourth quarter valued at approximately $37,000. WASHINGTON TRUST Co raised its position in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 31 shares in the last quarter. Finally, Dagco Inc. purchased a new position in ServiceNow during the first quarter valued at approximately $33,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NOW has been the topic of several research analyst reports. Piper Sandler raised their price objective on ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Guggenheim reissued a "sell" rating and issued a $724.00 price objective on shares of ServiceNow in a report on Thursday, July 17th. Raymond James Financial raised their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Citigroup raised their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, FBN Securities raised ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

ServiceNow Price Performance

Shares of NYSE:NOW traded down $8.24 during trading on Friday, reaching $930.04. The stock had a trading volume of 711,066 shares, compared to its average volume of 1,580,307. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The business has a fifty day moving average price of $927.34 and a 200-day moving average price of $922.46. The stock has a market cap of $193.45 billion, a PE ratio of 117.13, a PEG ratio of 4.23 and a beta of 0.91. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business's revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.13 earnings per share. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the transaction, the insider owned 3,000 shares of the company's stock, valued at approximately $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of the business's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. This trade represents a 46.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,976 shares of company stock valued at $17,049,775. Insiders own 0.38% of the company's stock.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.